<SEC-DOCUMENT>0001387131-23-009872.txt : 20230815
<SEC-HEADER>0001387131-23-009872.hdr.sgml : 20230815
<ACCEPTANCE-DATETIME>20230815173025
ACCESSION NUMBER:		0001387131-23-009872
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230815
DATE AS OF CHANGE:		20230815
PERIOD START:           	20231231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EAGLE CAPITAL GROWTH FUND, INC.
		CENTRAL INDEX KEY:			0000850027
		IRS NUMBER:				311274796
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05807
		FILM NUMBER:		231175910

	BUSINESS ADDRESS:	
		STREET 1:		225 EAST MASON STREET
		STREET 2:		SUITE 802
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		414-765-1107

	MAIL ADDRESS:	
		STREET 1:		225 EAST MASON STREET
		STREET 2:		SUITE 802
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NAIC GROWTH FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BETTER INVESTING FUND INC
		DATE OF NAME CHANGE:	19890716
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <regName>EAGLE CAPITAL GROWTH FUND, INC.</regName>
      <regFileNumber>811-05807</regFileNumber>
      <regCik>0000850027</regCik>
      <regLei>549300W62OY01Q0RFS14</regLei>
      <regStreet1>225 East Mason Street</regStreet1>
      <regStreet2>Suite 802</regStreet2>
      <regCity>Milwaukee</regCity>
      <regStateConditional regCountry="US" regState="US-WI"/>
      <regZipOrPostalCode>53202-3657</regZipOrPostalCode>
      <regPhone>4147651107</regPhone>
      <seriesName>N/A</seriesName>
      <seriesLei>N/A</seriesLei>
      <repPdEnd>2023-12-31</repPdEnd>
      <repPdDate>2023-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>39733709.69</totAssets>
      <totLiabs>29877.04326</totLiabs>
      <netAssets>39703832.64</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="-0.0306039" rtn2="0.027165675" rtn3="8.6572605"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="0" netUnrealizedAppr="-1259189.1"/>
        <othMon2 netRealizedGain="3215.55" netUnrealizedAppr="990603.33"/>
        <othMon3 netRealizedGain="0" netUnrealizedAppr="-58102.82"/>
      </returnInfo>
      <mon1Flow redemption="0" reinvestment="N/A" sales="N/A"/>
      <mon2Flow redemption="0" reinvestment="N/A" sales="N/A"/>
      <mon3Flow redemption="0" reinvestment="N/A" sales="N/A"/>

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      <invstOrSec>
        <name>Alphabet, Inc. A</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>02079K305</cusip>
        <identifiers>
          <ticker value="GOOGL"/>
        </identifiers>
        <balance>17000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2034900</valUSD>
        <pctVal>0.048617057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amazon.com Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>023135106</cusip>
        <identifiers>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>9000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1173240</valUSD>
        <pctVal>0.028030604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Automatic Data Processing, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>053015103</cusip>
        <identifiers>
          <ticker value="ADP"/>
        </identifiers>
        <balance>3000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>659370</valUSD>
        <pctVal>0.015753417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AutoZone Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>053332102</cusip>
        <identifiers>
          <ticker value="AZO"/>
        </identifiers>
        <balance>600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1496016</valUSD>
        <pctVal>0.035742245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Berkshire Hathaway Inc. B</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>084670704</cusip>
        <identifiers>
          <ticker value="BRK-B"/>
        </identifiers>
        <balance>26500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9036500</valUSD>
        <pctVal>0.21589662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charles Schwab Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>053332102</cusip>
        <identifiers>
          <ticker value="SCHW"/>
        </identifiers>
        <balance>34000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1927120</valUSD>
        <pctVal>0.046042018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Colgate-Palmolive Company</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>194162103</cusip>
        <identifiers>
          <ticker value="CL"/>
        </identifiers>
        <balance>21000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1617840</valUSD>
        <pctVal>0.038652818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Danaher Corporation</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>235851102</cusip>
        <identifiers>
          <ticker value="DHR"/>
        </identifiers>
        <balance>1000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>240000</valUSD>
        <pctVal>0.005733989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diamond Hill Investment Group, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>25264R207</cusip>
        <identifiers>
          <ticker value="DHIL"/>
        </identifiers>
        <balance>9576</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1640368.8</valUSD>
        <pctVal>0.039191067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>eBay Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>278642103</cusip>
        <identifiers>
          <ticker value="EBAY"/>
        </identifiers>
        <balance>3000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>134070</valUSD>
        <pctVal>0.003203149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Franklin Resources, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>354613101</cusip>
        <identifiers>
          <ticker value="BEN"/>
        </identifiers>
        <balance>70000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1869700</valUSD>
        <pctVal>0.044670161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Illinois Tool Works Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>452308109</cusip>
        <identifiers>
          <ticker value="ITW"/>
        </identifiers>
        <balance>7000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1751120</valUSD>
        <pctVal>0.041837093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>44919P508</cusip>
        <identifiers>
          <ticker value="JNJ"/>
        </identifiers>
        <balance>4000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>662080</valUSD>
        <pctVal>0.015818163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <ticker value="JPM"/>
        </identifiers>
        <balance>3000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>436320</valUSD>
        <pctVal>0.010424391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kraft Heinz Company</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>500754106</cusip>
        <identifiers>
          <ticker value="KHC"/>
        </identifiers>
        <balance>29000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1029500</valUSD>
        <pctVal>0.024596422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Markel Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>570535104</cusip>
        <identifiers>
          <ticker value="MKL"/>
        </identifiers>
        <balance>1670</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2309910.6</valUSD>
        <pctVal>0.055187505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mastercard Inc</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <ticker value="MA"/>
        </identifiers>
        <balance>1000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>393300</valUSD>
        <pctVal>0.009396574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MediaAlpha, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>58450V104</cusip>
        <identifiers>
          <ticker value="MAX"/>
        </identifiers>
        <balance>9876</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101821.56</valUSD>
        <pctVal>0.002432682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>O'Reilly Automotive Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>67103H107</cusip>
        <identifiers>
          <ticker value="ORLY"/>
        </identifiers>
        <balance>1500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1432950</valUSD>
        <pctVal>0.034235496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Paychex, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>704326107</cusip>
        <identifiers>
          <ticker value="PAYX"/>
        </identifiers>
        <balance>6000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>671220</valUSD>
        <pctVal>0.016036533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PepsiCo, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>713448108</cusip>
        <identifiers>
          <ticker value="PEP"/>
        </identifiers>
        <balance>10000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1852200</valUSD>
        <pctVal>0.044252058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Procter &amp; Gamble Company</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>742718109</cusip>
        <identifiers>
          <ticker value="PG"/>
        </identifiers>
        <balance>2000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>303480</valUSD>
        <pctVal>0.007250629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>855244109</cusip>
        <identifiers>
          <ticker value="SBUX"/>
        </identifiers>
        <balance>12000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1188720</valUSD>
        <pctVal>0.028400446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>863667101</cusip>
        <identifiers>
          <ticker value="SYK"/>
        </identifiers>
        <balance>4500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1372905</valUSD>
        <pctVal>0.032800924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T. Rowe Price Group Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>74144T108</cusip>
        <identifiers>
          <ticker value="TROW"/>
        </identifiers>
        <balance>18400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2061168</valUSD>
        <pctVal>0.049244642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>US Bancorp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>902973304</cusip>
        <identifiers>
          <ticker value="USB"/>
        </identifiers>
        <balance>12000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>396480</valUSD>
        <pctVal>0.009472549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Visa Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <ticker value="V"/>
        </identifiers>
        <balance>1500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>356220</valUSD>
        <pctVal>0.008510673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waters Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>941848103</cusip>
        <identifiers>
          <ticker value="WAT"/>
        </identifiers>
        <balance>2000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>533080</valUSD>
        <pctVal>0.012736145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>949746101</cusip>
        <identifiers>
          <ticker value="WFC"/>
        </identifiers>
        <balance>10000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>426800</valUSD>
        <pctVal>0.010196943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Inst. Liquidity Fund, Treasury</name>
        <lei>549300D1XR6GP7EZ0T47</lei>
        <title>Money Market Fund</title>
        <cusip>999303563</cusip>
        <identifiers>
          <ticker value="MISXX"/>
        </identifiers>
        <balance>1705493.11</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.065636989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-08-14</ncom:dateSigned>
      <ncom:nameOfApplicant>EAGLE CAPITAL GROWTH FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ David Sims</ncom:signature>
      <ncom:signerName>David Sims</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
